SG-FORGE, Societe Generale's digital asset unit
SG-FORGE is the unit through which Societe Generale issues stablecoins and puts bonds and structured products on public blockchains. Its EUR CoinVertible (EURCV) and USD CoinVertible (USDCV) are e-money tokens under MiCA, issued by an electronic money institution licensed in France and redeemable one to one in euros or dollars.
Digital assets at Societe Generale
Societe Generale-FORGE describes its work as "bridging the gap between Capital Markets and Digital Assets." It issues CoinVertible stablecoins, a product called Smart Cash, digital bonds for clients and structured products of the Societe Generale group, which it registers on the Ethereum and Tezos public blockchains. France's market regulator lists SG-FORGE as a crypto-asset service provider under MiCA, licensed for custody, order execution and transfers.
EUR CoinVertible and USD CoinVertible
On its CoinVertible page, SG-FORGE calls both tokens a "regulated e-money token (EMT)" and itself "a MiCA-compliant e-money institution licensed by the ACPR." The reserves are 100 percent cash, held in segregated accounts with daily disclosure, and holders can redeem one to one through SG-FORGE or its partners. EURCV has met the MiCA stablecoin rules since they took effect on July 1, 2024; USDCV launched on June 25, 2025.
Both tokens run on Ethereum. EURCV is also on Solana and the XRP Ledger, and SG-FORGE plans to bring CoinVertible to the Canton Network. In Germany, Boerse Stuttgart Digital integrated EUR CoinVertible for crypto trading, and the exchange Bitvavo lists both tokens. Euro stablecoins under MiCA compares EURCV with other euro tokens.
Bonds and settlement on chain
SG-FORGE's bonds product covers the issuance of digital bonds by clients, and it took part when the European Investment Bank issued its first digital bond on a public blockchain. Together with Societe Generale and flatexDEGIRO, SG-FORGE joined Seturion, Boerse Stuttgart Group's European settlement platform for tokenized securities, which settles trades against central bank money or stablecoins.
Upcoming stablecoin and digital asset events
Payments & Digital Money
Investment & Digital Assets
Risk & Compliance
What is SG-FORGE?
SG-FORGE, in full Societe Generale-FORGE, is the subsidiary of the French bank Societe Generale that issues the stablecoins EURCV and USDCV and registers bonds and structured products on public blockchains.
Is EURCV regulated under MiCA?
Yes. EURCV is an e-money token under MiCA. SG-FORGE issues it as an electronic money institution licensed by the French ACPR, and the token can be redeemed one to one in euros.
On which blockchains does EUR CoinVertible run?
EURCV runs on Ethereum, Solana and the XRP Ledger. SG-FORGE has announced plans for the Canton Network.
What is the difference between EURCV and USDCV?
EURCV is denominated in euros and USDCV in US dollars. Both are e-money tokens from SG-FORGE with full cash reserves and one-to-one redemption.
Stablecoins and digital money
Settlement and markets
SG-FORGE and Finance Loop
Finance Loop covers euro stablecoins such as EUR CoinVertible in its Payments & Digital Money track and is a strategic partner of the Digital Euro Association. Finance Loop events in Frankfurt, among them the Bybit EU x Circle Roadshow, put euro stablecoins and their settlement on the program.
Finance Loop is a professional network and has the goal of driving the adoption of emerging technologies in finance, such as AI, digital payments, cloud and blockchain solutions. Finance Loop helps its members build skills and personal networks in these fields: Investment & Digital Assets, Payments & Digital Money, Digital Infrastructure & Sovereignty, and Risk & Compliance.